[WestBankM4]

I think I can guide you in the right direction as I was in the same boat a couple months back, and finally found the E46 M3 I've wanted. It's night and day from the F82, driving my F82 I was worried about technology, but the beautiful thing about the E46 M3 is that it is a very simple car, but with decent technology for it's age.

1. Reliability: I've seen examples with 350K+ miles, well maintained and still going strong, with specific areas being addressed that are the weak points on the chassis/engine. The engine, you can't say much as it's the S54, an absolute legendary NA I6.

2. Aftermarket parts + community: Community is huge, the car is old enough that there are plenty of DIY's and that's what I enjoy doing. I enjoy working on it slowly and getting it back to a point where I can daily drive it knowing it's refreshed properly, with an OEM+ feel. I'm from the Bay Area, CA and there are plenty of individuals who are very knowledgeable about the car and can help out. As far as aftermarket parts, there are a plethora of engine modifications you can do, but as far as body goes, there's not much there. People do a lot of CSL upgrades to the cars exterior, front bumper, diffusor, CSL trunk, and some odd bits in the interior. The stereo is a pain in the ass, so be prepared to spend a little bit if your stereo system goes down. I've been using NAM3 forums a lot as well as Bimmerpost.

3. Cost to maintain/own: The car's street value is a lot higher than what the Blue Book would suggest, so be prepared to spend for a low mileage clean example. I see Salvage Title junks going for $10k-13k here in the Bay Area, just bide your time.

There are also 3-main areas on the car that you want to make sure have been done, or doesn't have any current issues. The first is the subframe and cracking. The car will either have it, or will get it. This issue is addressed with reinforcement plates which Vincebar manufacturers and is a great design. Cleaning, cutting and welding will be required needed. It's a good time to drop the subframe and get to work on the suspension like I'm doing.

Second area of concern is the Vanos unit. I've had my Vanos rebuilt using Beisan parts, you can DIY or take it to a shop. This unit has the potential to destroy the motor, so get it addressed soon if it hasn't been already.

Third thing to look for is the rod bearings, a classic issue that plagues even later model M's. You should have these changed out at least every 80,000 - 100,000 miles, and have a potential to bring catastrophic engine failure.

Addressing those 3 key areas are normally something you want to tackle right away, besides that, everything else can be worked on slowly. I love the car and I think I'm going to be enjoying it for many years to come.